Is Cash Still King in Thailand? A Modern Guide to Managing Your Money

One piece of advice you may have heard over the years is that 'Cash is King' when it comes to managing your travel money in Thailand. But is this still true in 2025? With evolving payment systems and increasing convenience, how should travelers, tourists, and expats handle their money during their stay in Thailand?

This guide will explore the current landscape of cash versus cards in Thailand, the best ways to access your money, and how to avoid unnecessary fees. By the time you finish reading, you’ll feel confident managing your money in Thailand.

Why You Shouldn’t Rely on Cash Anymore

Once upon a time, carrying wads of cash - Thai baht (THB) was the norm for visitors to Thailand. You’d exchange your home currency for baht at local banks, the post office, or even at the airport when you arrive. However, this strategy doesn't make much sense to me anymore and has zero benefits.

Here’s why:

• Risk of Theft or Loss: Carrying large sums that could get lost or stolen and doesn't make any sense. Neither does leaving it in your hotel room where it could go missing while your not there (unfortunately this still happens in many tourist hotspots across the globe)
• Poor Exchange Rates: Currency exchange counters in Thailand often have the best exchange rate, but by the time you've paid a taxi to get to the mall, where you'll get the best rate, it ends up less than just using the ATM. If you exchange in your home country or airport, you'll get the lowest rate so avoid doing this if you can.
• Reduced Necessity: There is an ATM you can use on every street, and some businesses will accept cards anyway, so you no longer need to carry excess cash.

ATMs a Traveler’s Best Friend

Today, the most efficient and secure way to access Thai baht is through ATMs. Thailand is dotted with ATMs at every corner - from big cities like Bangkok and Chiang Mai to smaller islands and towns.

Why ATMs Make Sense:

• You can withdraw smaller amounts as needed, reducing the risk of carrying around and losing large amounts of cash.
• Thai ATMs have an English-language interface, making transactions easy for tourists.
• No planning is needed; just bring a globally accepted debit or credit card.
• If you are on a budget, you can withdraw up to 30,000 THB (Approx 680 GBP) per time for just a 220 THB (Approx 5 GBP) fee.

Thai banks charge a flat fee for transactions of 220 THB (Approx 5 GBP/ 6 EURO/ 6.50 USD), but there are ways to maximize your value.

How to Save Money on ATM Withdrawals

When using an ATM in Thailand, you’ll often see a prompt asking if you’d like to proceed with the ATM’s 'conversion rate.' It’s tempting to say yes, but here’s a tip:

• ALWAYS Say No to the ATM Conversion Rate.

Declining the ATM’s conversion rate ensures your transaction is processed in Thai baht, leaving your home bank to handle the currency conversion. Why? Most home banks (or even foreign card providers) offer significantly better exchange rates than the ATM.

This small step can save you up to 10% on each withdrawal, helping your money stretch further during your trip.

Using ATMs doesn’t completely replace cash usage in Thailand, but it does make it easier to manage how much you’re carrying.

Cash vs. Card in Daily Life

Although card machines are handy, cash remains the most widely accepted payment method, especially among smaller or traditional businesses. Here’s a breakdown of what to expect:

When Cash Is King

• Local Street Vendors: Whether it’s Pad Thai at a night market or a bucket down Khao San Road most locals will only take cash.
• Public Transportation: Tuk-tuks, motorbike taxis, and public transport still require cash. (I would recommend using taxi apps like Grab and Bolt which are cheaper and do accept card payments)
• Muay Thai Gyms: Smaller, locally operated gyms nearly always request cash payments for classes or memberships.

Where Cards Are Accepted

• Hotels: Almost all hotels catering to tourists accept cards, although some may charge an additional fee for convenience (usually 5%)
• Shopping Malls: International retail chains and upscale stores accept credit and debit cards.
• Tourist-Oriented Gyms: High-end gyms in tourist hubs may allow card payments, though watch out for added fees (typically around 5%).

It’s best to assume that any small or local business will require cash, so always keep some cash on you.

Final Thoughts on Cash in Thailand

Cash is still a major player in Thailand, but carrying large sums is no longer necessary or advisable. With plenty of ATMs on every corner and simple advice, such as rejecting the ATM conversion rates, you can manage your money securely and efficiently.

Manage your money the smart way and have more baht to spend on the things that truly matter during your trip, like more Muay Thai lessons!

Please read my guide on how to save money using an ATM in Thailand.